Growing prevalence of chronic diseases to drive the growth of United States digital therapeutics market
According to TechSci Research report, “United States Digital Therapeutics Market By Product (Software v/s Device), By Sales Channel (B2B v/s B2C), By Application (Preventive Applications v/s Treatment Applications), By Region, Forecast & Opportunities, 2025”, the United States digital therapeutics market is expected to grow at a robust rate during the forecast period on account of the increasing technological advancements in mobile healthcare. Additionally, associated benefits such as ability to induce behavioral changes, ease of use, patient convenience, improved patient compliance, among others with digital therapeutics are further expected to propel the market over the next few years. Moreover, digital therapeutics not only address unmet patient needs but also support various stages of patient healthcare journey. They can collect, synthesize and analyze patient data so that the physician can provide a personalized treatment to the patient and avoid complications. Furthermore, growing venture capital investments are also expected to positively impact the growth of market in the country. However, lack of awareness and access to digital awareness especially in the developing world might hamper the growth market through 2025. Additionally, data privacy concerns can also hinder the growth of market. Furthermore, resistance from traditional healthcare providers restricts the market growth across the country. Also, digital therapeutics does not include consumer health oriented technologies such as calorie counter, steps tracker, among others, which might also negatively impact the market growth. Besides, unstable payment models might also slow down the market growth.
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The United States digital therapeutics market is segmented based on product, sales channel, application, company and region. Based on product, the market can be divided into software and device. The software segment is expected to dominate the market over next few years. This can be ascribed to the rising demand for reducing burden and costs of healthcare around the globe. Additionally, this provides immense opportunities to the developers to use the existing software and develop new and advanced features to make them affordable and effective. Based on sales channel, the market can be categorized into B2B and B2C. the B2B segment is expected to dominate the market over the next few years. This can be accredited to the growing awareness among providers, payers & employers about benefits provided by digital therapeutics & healthcare cost reductions by their use. Additionally, there is growing inclination of pharmaceutical and biotechnology companies to integrate digital therapeutics with their drug products. Based on application, the market can be bifurcated into preventive applications and treatment applications. The preventive applications segment is expected to witness significant growth during forecast period owing to the increasing government initiatives to promote preventive healthcare.
Noom Inc., Livongo Health, Omada Health Inc., WellDoc, Inc., Pear Therapeutics Inc., Proteus Digital Health Inc., Resmed, Inc. (Propeller Health), Akili Interactive Labs, Better Therapeutics, Happify, Mango Health, Click Therapeutics, Canary Health, Cognoa, Dthera Sciences, Mindstrong Health, 2Morrow Inc., Ginger, Fitbit Inc. (Twin Health Inc.), Livongo Health, Inc. and others are some of the leading players operating in United States digital therapeutics market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.
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“United States is expected to witness significant growth in the digital therapeutics market during the forecast years, owing to the increasing awareness related to digital therapeutics system in the country. Additionally, increasing number of people suffering from chronic diseases such as cancer, diabetes, cardiovascular diseases, among others in the country is further anticipated to spur the market through 2025. Furthermore, increasing healthcare expenditure coupled with improving healthcare IT infrastructure in the region is expected to create lucrative opportunities for the players in the market over the next few years. Also, influx of new start-ups and easy reimbursement policies are expected to foster the growth of market in the country. Besides, favourable government schemes & policies are expected to fuel the market growth over the next few years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based United States management consulting firm.
“United States Digital Therapeutics Market By Product (Software v/s Device), By Sales Channel (B2B v/s B2C), By Application (Preventive Applications v/s Treatment Applications), By Region, Forecast & Opportunities, 2025”, has evaluated the future growth potential of United States digital therapeutics market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in United States digital therapeutics market.